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1 September 2024 | 5 replies
Per this NY Times article, the average American knows around 600 people.https://www.nytimes.com/2013/02/19/science/the-average-american-knows-how-many-people.html#:~:text=The%20average%20American%20knows%20about,do%20you%20know%20named%20Kevin%3FPer the US Census Bureau, the average American moves 11.7 time in their life, which based upon an approximate lifespan of 84 years, works out to be about every 7 years.https://www.census.gov/topics/population/migration/guidance/calculating-migration-expectancy.html#:~:text=Using%202007%20ACS%20data%2C%20it,one%20move%20per%20single%20yearSo, if the average American knows 600 people and they each move about every 7 years, that means that the average American knows around 85 people that move in any given year.How many of those moves do you want to be involved in?
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2 September 2024 | 13 replies
These are great things to know.
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1 September 2024 | 7 replies
While I can definitely swing a hammer, I know there's a lot I don't know about this world and how to grow it into a successful business - I'm really looking forward to being a part of the group and putting in the work to build something significant in more ways than one!
2 September 2024 | 8 replies
I know it seems hard and it will take time but take full advantage of the 30 day trial.
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2 September 2024 | 8 replies
Know that children are rough on properties versus older adults with no kids.
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2 September 2024 | 3 replies
Up/down units can be terrible for noise.Good to know.
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2 September 2024 | 2 replies
Does anyone know a flat fee or low-cost title company that can help in Florida?
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1 September 2024 | 9 replies
We want copies of leases and spend hours combing through the intricate details; we want to know the seller’s “motivation”, we want to know long term economic forecasts for the community, the state, the U.S.
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2 September 2024 | 10 replies
I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).
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1 September 2024 | 2 replies
I would like to know how to convert my 2 units single property to my LLC?